Baidu Bear Flag
Take a look at this chart of Baidu.com (BIDU) and you can see what I am speaking of. Now, please note straight off that this is not a triangular pattern as for instance shares of Intercontinentalexchange (ICE) have setup. The reason it isn’t is because BIDU is trading under its support line, not above it.
And, with that said, the first bearish point to note is that the stock has fallen under $115ish support, closed below it, and is now trading under it. Though this is on lower volume, you still have to deal with this technical area as resistance instead of support. Secondly, you can see the downtrending channel that has begun to create itself. For BIDU to turn the corner, the diagonal line pointing downward will have to be broken. My opinion is stay away from BIDU until further notice.
this is probably true. we will drop at new year. if you’re into short term trading you might want to check out http://www.bullrally.com